However there is a far worse threat looming and that is the economic implication which is becoming very obvious in its wake.
Headlines say that a recession is looming, and as no one under 50 knows what a recession is like to live through we are in for a 'rough ride' . Many people have lost their jobs and will have very little hope of getting another one in the near future. Airlines have stopped flying, movies and theatres, restaurants and all public entertaining has ceased as have all public gatherings. The streets are deserted as everyone stays at home eating and streaming Netflix . Because this recession has been triggered by government policy it will be much bigger than usual, and is likely to equal the great depression of the 1930s. Real GDP will fall by 10% over the first half of the year and unemployment will continue to rise. Loss of wages and loss of work will force many families to sell their properties and could cause a Real Estate downturn.
There is one bright spot in the overall gloom and that is we can still gamble online. Online casinos have almost doubled their business since the lockdown, and many people are embracing them as a way to entertain themselves. Also online Horse Racing and Lotteries have become more popular. Another area to grow is online shopping and many of us have been amusing ourselves with new purchases.
Most of us can understand why the lockdown and social isolation are important as it gives the virus little chance of spreading, and gives the Laboratory's more time to develop a vaccine. Until this time overseas travel will be severely restricted and there will be no tourists, and very little tourism. People who have jobs will often be asked to work from home at reduced hours, so life has become a lot less certain in 2020.
The schools have been closed and students working from home on Zoom or Skype, only in many cases the school day has become very short, as the parents are supervising as well as doing their own work. School should resume in the next couple of weeks and at least that will give the kids some structure. The economic shock has been very sudden and most people have had little time to absorb the 'new normal'.
For countries going into summer there should be some improvement as the benefits of sunlight killing viruses has been well documented, and will help build immunity. For those of us going into winter it is expected that the virus may make a return. Hand sanitizers and masks are now mandatory as we all become much more aware of hygiene.
Business is really suffering and the government is looking for ways to stimulate the economy and to get things moving again.
The share market is falling as investors lose confidence and even once strong Bank shares are falling fast. It looks as though there will be no rebound in the near future, making investors very jittery. Even certain taxes, which the public have complained of for years, have been suddenly removed, so we know that the situation must be serious.
All indicators point to the fact that the recession will be huge and not even the government will be able to put a positive spin on it. Those of us who have steady work from home are very lucky and it is important that we keep informed and socially connected.
For the people who don't have work life will be very difficult and a lot of manufacturing jobs and retail jobs have totally disappeared. Many businesses providing beauty therapies and remedial massage treatments have closed down and probably many will not reopen. These people will in many cases be forced to retrain in order to survive. Only last week I heard of a skilled A grade footballer who has retrained as a hospital orderly, health jobs are booming and football is not being played in current circumstances, but may come back mid year. Welcome to the 'new normal'.
